Bitcoin Futures Platform Bitnomial Sues U.S. SEC, Alleging Over-Regulation
On October 11, Bitnomial Exchange, a bitcoin futures platform, is suing the U.S. Securities and Exchange Commission (SEC), alleging that it has overreached its jurisdiction over digital assets, in a case involving the XRP futures contract, which is already regulated by the CFTC.In its filing, Bitnomial says that futures are solely within the purview of the Commodity Futures Trading Commission, and that the involvement of the SEC would significantly increase the regulatory burden on the company. Bitnomial said in its filing that futures are only under the purview of the CFTC and that the SEC's involvement would significantly increase the company's regulatory burden. The news comes after the CFTC approved Bitnomial, a bitcoin futures platform, to register as a derivatives clearing organization in the U.S. last December.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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